Wendy Greuel for City Controller

Reforming the tax code and encouraging entrepreneurship

Councilwoman Greuel has successfully reformed Los Angeles business policy, to modernize the city's archaic tax system and to keep the film industry based in Hollywood. As Chair of the City's Business Tax Reform committee, she knows that to attract jobs, stimulate the economy and support city services Los Angeles must become more business friendly.

Councilwoman Greuel is particularly devoted to creating an environment where smaller local businesses can thrive. Small and medium-sized businesses are the backbone of the Los Angeles economy representing more than 99.7% of all employers and employing more than half of all private sector employees. Small and medium-sized companies generate 60-80% of all new jobs annually in Los Angeles.

Accomplishments:

• Phased in a 15% across-the-board tax cut for all businesses in Los Angeles.
• Returned $92 million to Los Angeles' businesses, through tax cuts and incentives.
• Eliminated the business tax on all companies grossing $100,000 or less annually.
• Eliminated the business tax on all individual artists grossing $300,000 or less annually.
• Eliminated taxes on bad debts which businesses are unable to collect.
• Cracked down on business-tax scofflaws by hiring additional auditors to go after businesses working in the city with out paying taxes.
• Successfully lobbied Sacramento for worker compensation reform which resulted in the City saving over $20 million.
• Eliminated the City facility use fees for filming on properties owned by the City of Los Angeles.
• Lowered taxes for mid-sized film production companies by raising the tax threshold from $50,000 to $2.5 million.
• Simplified the business tax code by reducing the number of filing categories from seventy five to nine.

On Wendy's Agenda:

• Streamlining the City's contracting process to promote city work with small local business.
• Work with the film and music industry to examine the impact of piracy on the Los Angeles economy.
• Exploring alternatives to the gross receipts tax.
• Continue reducing the City's business tax towards a 25% reduction.

Los Angeles is the 11th largest economy in the world. Councilwoman Greuel will ensure the economy remains competitive by attracting new business, rewarding local companies and protecting jobs.